Share price at the NSE close on 23 Oct 2026. Previous close ₹12.17.
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies.
- ₹2,130 Cr1,083rd largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit.
- Lossover the last 12 months
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. The filing of 9 May 2026
- 0.8
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- Nonein the last 12 months
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it. The filing of 1 Aug 2026
- −32.9%
- NIMNet interest margin. Net interest income ÷ the average assets that earn interest × 100 × 12 ÷ the months in the period, a rate per year; given only where the balance sheets at the start and at the end of the period are both held; not given for an insurer. For the year to Mar 2026.
- 5.90%
- Gross NPAGross NPA, non-performing loans. Gross non-performing loans as a percentage of all loans, as the bank states it, in per cent on the one scale its filing writes all its ratios in; not given where that scale cannot be told, where the figure is outside what it can be, where the filing's own amounts show it written on another scale or rounded to the whole per cent, where it is 0 for a bank that lends, or where it is below the net share. At the end of Jun 2026.
- 6.09%
- Net NPANet NPA, non-performing loans. Net non-performing loans as a percentage of loans, as the bank states it, in per cent on the one scale its filing writes all its ratios in; not given where that scale cannot be told, where the figure is outside what it can be, where the filing's own amounts show it written on another scale or rounded to the whole per cent, where it is 0 for a bank that lends, or where it is above the gross share. At the end of Jun 2026.
- 2.86%
- CET1Common equity tier 1 ratio. The bank's core capital, mostly shareholders' money, as a percentage of its loans and other assets weighted by risk, as the bank states it, in per cent on the one scale its filing writes all its ratios in; not given where that scale cannot be told, or where the figure is outside what it can be. At the end of Jun 2026.
- 17.44%
- ROAReturn on assets. Profit after tax ÷ average total assets × 100 × 12 ÷ the months in the period, a rate per year; given only where the balance sheets at the start and at the end of the period are both held; not given for an insurer. It equals net interest income + other income − operating expenses − provisions + exceptional items − tax + the lines below tax, each on the same base. For the year to Mar 2026.
- −4.04%
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day.
- 1,01,36,38145.0% delivered
Utkarsh Small Finance Bank board of directors
At the end of the quarter to Sep 2026, as the company filed it; changes since are in its announcements.Their trades in its shares
- ChairpersonKshatrapati Shivaji
- Managing director and CEOGovind Singh
- Company Secretary and Compliance OfficerMuthiah Ganapathy
9 directors5 independent2 executive2 non-executive
- Kshatrapati Shivaji · ChairpersonIndependent · joined Jul 2025 · reappointed Jul 2025 · 15 months as independent · 1 listed board · 1 as independent
- Ajay Kumar KapurIndependent · joined Mar 2021 · reappointed Mar 2026 · 66 months as independent · 1 listed board · 1 as independent · 2 committee seats
- Gauri Rushabh ShahIndependent · joined Jun 2025 · reappointed Jun 2025 · 16 months as independent · 1 listed board · 1 as independent · 2 committee seats, 2 as chair
- Kalpana Prakash PandeyIndependent · joined Apr 2020 · reappointed Apr 2025 · 77 months as independent · 1 listed board · 1 as independent · 2 committee seats
- Parveen Kumar GuptaIndependent · joined Sep 2021 · reappointed Sep 2021 · 61 months as independent · 3 listed boards · 3 as independent · 6 committee seats, 2 as chair
- Ram Jass YadavNon-executive · joined Jan 2026 · reappointed Jan 2026 · 8 months as independent · 1 listed board
- Anjani Kumar SrivastavaNon-executive · joined May 2026 · reappointed May 2026 · 4 months as independent · 1 listed board
- Govind Singh · Managing director and CEOExecutive · joined Apr 2016 · reappointed Sep 2024 · 1 listed board · 1 committee seat
- Sarjukumar Parvin SimariaExecutive · joined Jun 2026 · reappointed Jun 2026 · 1 listed board
An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.
4 directors who left
- Muralidharan Rajamani, left 2 Mar 2026: Tenure Completion
- Pramod Kumar Dubey, left 31 Dec 2025: Others
- Nagesh Dinkar Pinge, left 20 Jul 2025: Tenure Completion
- Kajal Ghose, left 16 Jan 2025: Tenure Completion
Committees and meetings
Who sits on each, and how often they met.Board meeting notices and outcomes
Board
- 19 Sep 20269 of 9 present5 independent · 48 days in between
- 1 Aug 20269 of 9 present5 independent · 41 days in between
- 20 Jun 20268 of 8 present5 independent
- 9 May 20267 of 7 present5 independent
Audit Committee
Chair Gauri Rushabh Shah
Ajay Kumar Kapur, Kalpana Prakash Pandey, Parveen Kumar Gupta
- 16 Sep 20264 of 4 present4 independent · 45 days in between
- 1 Aug 20264 of 4 present4 independent · 55 days in between
- 6 Jun 20264 of 4 present4 independent · 27 days in between
- 9 May 20264 of 4 present4 independent
Nomination and remuneration committee
Chair Parveen Kumar Gupta
Kshatrapati Shivaji, Ram Jass Yadav
- 25 Jul 20263 of 3 present2 independent · 79 days in between
- 6 May 20263 of 3 present2 independent
Stakeholders Relationship Committee
Chair Gauri Rushabh Shah
Kalpana Prakash Pandey, Govind Singh
- 29 Jul 20263 of 3 present2 independent
- 6 May 20263 of 3 present2 independent
Risk Management Committee
Chair Ajay Kumar Kapur
Kshatrapati Shivaji, Anjani Kumar Srivastava, Govind Singh
- 11 Sep 20264 of 4 present2 independent · 86 days in between
- 16 Jun 20264 of 4 present2 independent
Corporate Social Responsibility Committee
Chair Ram Jass Yadav
Ajay Kumar Kapur, Kalpana Prakash Pandey
- 9 Jun 20263 of 3 present2 independent
Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.
Statutory auditors
Named in the results for the quarter to Mar 2026.
- MM Nissim & Co LLPPeer-review certificate valid to Mar 2028
- KKC & Associates LLPPeer-review certificate valid to Jul 2027
4 earlier auditors
- M/s Deloitte Haskins & SellsNamed in the filing for the quarter to Jun 2025
- M/s Kirtane & Pandit LLPNamed in the filing for the quarter to Jun 2025
- Deloitte Haskins & Sells, Chartered AccountantsNamed in the filing for the quarter to Mar 2025
- Kirtane & Pandit LLP, Chartered AccountantsNamed in the filing for the quarter to Mar 2025
A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.
Utkarsh Small Finance Bank AGM and shareholder votes
Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.Utkarsh Small Finance Bank dividend history
Annual general meeting, 4 Aug 2026
2,84,417 shareholders on the register on 28 Jul 2026; present: 1 promoter and 71 others; votes counted by Avinash Bagul / M/s BNP & Associates, Company Secretaries.The company's voting result (opens in a new tab)
- To receive, consider and adopt the Audited Financial Statements of the Bank for the financial year ended March 31, 2026 together with the reports of the Board of Directors and the Auditors thereon.Ordinary99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 6.04%
Turnout: all 31.90% · promoters 60.94% · institutions 25.03% · other public 0.19%
- To appoint a director in place of Dr. Ram Jass Yadav (DIN: 08911900), who retires by rotation and being eligible, offers himself for re-appointment.Ordinary99.97% for0.03% against
Against: promoters 0.00% · institutions 0.00% · other public 13.53%
Turnout: all 31.90% · promoters 60.94% · institutions 25.03% · other public 0.19%
- To appoint Mr. Anjani Srivastava (DIN: 07594445) as a Non-Executive Non-Independent Director of the Bank.Ordinary99.97% for0.03% against
Against: promoters 0.00% · institutions 0.00% · other public 13.85%
Turnout: all 31.90% · promoters 60.94% · institutions 25.03% · other public 0.19%
- To re-appoint Mr. Parveen Kumar Gupta (DIN:02895343) as an Independent Director of the Bank.Special99.98% for0.02% against
Against: promoters 0.00% · institutions 0.00% · other public 10.77%
Turnout: all 31.90% · promoters 60.94% · institutions 25.03% · other public 0.19%
- To appoint Mr. Sarjukumar Pravin Simaria (DIN:02436025) as Whole-time Director of the Bank and payment of remuneration to him.Special99.96% for0.04% against
Against: promoters 0.00% · institutions 0.00% · other public 17.11%
Turnout: all 31.90% · promoters 60.94% · institutions 25.03% · other public 0.19%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Meeting called by the tribunal, 28 Mar 2026, 1 resolution
2,90,627 shareholders on the register on 21 Mar 2026; present: 1 promoter and 46 others; votes counted by Sumit Agrawal / M/s. Sumit K.B. Agrawal & Co..The company's voting result (opens in a new tab)
- Approval of Scheme of Amalgamation between Utkarsh Coreinvest Limited into and with Utkarsh Small Finance Bank Limited and their respective Shareholders.SpecialPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 36.89% · promoters 60.94% · institutions 22.18% · other public 17.88%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 28 Feb 2026, 3 resolutions
2,86,316 shareholders on the register on 23 Jan 2026; votes counted by Avinash Bagul / M/s BNP & Associates, Company Secretaries.The company's voting result (opens in a new tab)
- Appointment of Dr. Ram Jass Yadav (DIN: 08911900) as an Non-Executive Non-Independent Director of the Bank.Ordinary99.95% for0.05% against
Against: promoters 0.00% · institutions 0.00% · other public 3.79%
Turnout: all 36.84% · promoters 60.94% · institutions 44.36% · other public 1.44%
- Re-appointment of Mr. Ajay Kumar Kapur (DIN: 00108420) as an Independent Director of the Bank.Special99.88% for0.12% against
Against: promoters 0.00% · institutions 0.00% · other public 9.08%
Turnout: all 36.84% · promoters 60.94% · institutions 44.36% · other public 1.44%
- Payment of remuneration to Mr. Govind Singh, Managing Director & Chief Executive Officer (DIN: 02470880) of the Bank for the FY 2025-26.Special99.88% for0.12% against
Against: promoters 0.00% · institutions 0.00% · other public 9.40%
Turnout: all 36.84% · promoters 60.94% · institutions 44.36% · other public 1.44%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 22 Aug 2025, 5 resolutions
2,56,114 shareholders on the register on 13 Aug 2025; present: 1 promoter and 54 others; votes counted by Avinash Bagul / M/s BNP & Associates, Company Secretaries.The company's voting result (opens in a new tab)
- To receive, consider and adopt the Audited Fianncial Statements of the Bank for the financial year ended March 31, 2025 together with the reports of the Board of Directors and the Auditors thereon.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.25%
Turnout: all 30.28% · promoters 37.72% · institutions 58.67% · other public 1.80%
- To appoint a Director in place of Mr. Muralidharan Rajamani (DIN: 01690363), who retires by rotation and being eligible, offers himself for re-appointment.Ordinary99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.66%
Turnout: all 30.28% · promoters 37.72% · institutions 58.67% · other public 1.80%
- To appoint and fix remuneration of Joint Statutory Auditors of the Bank.Ordinary99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.48%
Turnout: all 30.28% · promoters 37.72% · institutions 58.67% · other public 1.80%
- Appointment of Dr. Kshatrapati Shivaji (DIN: 01185381) as an Independent Director and Part Time Chairman of the Bank.Special99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.53%
Turnout: all 30.28% · promoters 37.72% · institutions 58.67% · other public 1.80%
- Appointment of M/s. BNP & Associates, Company Secretaries as Secretarial Auditor of the Bank.Ordinary99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.33%
Turnout: all 30.28% · promoters 37.72% · institutions 58.67% · other public 1.80%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 12 Jul 2025, 2 resolutions
2,49,644 shareholders on the register on 6 Jun 2025; votes counted by Avinash Bagul / M/s BNP & Associates, Company Secretaries.The company's voting result (opens in a new tab)
- Re-Appointment of Ms. Kalpana Prakash Pandey (DIN:06715713) as an Independent Director of the BankSpecial99.96% for0.04% against
Against: promoters 0.00% · institutions 0.00% · other public 2.26%
Turnout: all 28.20% · promoters 37.72% · institutions 21.08% · other public 2.06%
- Appointment of Ms. Gauri Rushabh Shah (DIN: 06625227) as an Independent Director of the BankSpecial99.98% for0.02% against
Against: promoters 0.00% · institutions 0.00% · other public 1.41%
Turnout: all 28.20% · promoters 37.72% · institutions 21.08% · other public 2.05%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 30 Mar 2025, 1 resolution
2,48,269 shareholders on the register on 21 Feb 2025; votes counted by Avinash Bagul / M/s BNP & Associates, Company Secretaries.The company's voting result (opens in a new tab)
- To Raise Funds Through Issue of Equity SharesSpecial98.18% for1.82% against
Against: promoters 0.00% · institutions 9.62% · other public 2.62%
Turnout: all 32.58% · promoters 37.72% · institutions 50.98% · other public 3.03%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 14 Dec 2024, 2 resolutions
The company's voting result (opens in a new tab)
- Appointment of Mr. Pramod Kumar Dubey (DIN: 10174154) as a Whole-Time Director of the Bank and fixation of his remunerationOrdinary99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.19%
Turnout: all 37.01% · promoters 37.72% · institutions 74.28% · other public 5.47%
- Approval for the increase in the limit of share pool of USFBL Employee Stock Option Plan 2020 and implementation of USFBL Employee Stock Option 2024 - Scheme IISpecial93.48% for6.52% against
Against: promoters 0.00% · institutions 18.78% · other public 94.53%
Turnout: all 33.91% · promoters 37.72% · institutions 51.35% · other public 5.47%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 22 Jul 2024, 8 resolutions
Present: 1 promoter and 48 others.The company's voting result (opens in a new tab)
- To receive, consider and adopt the Audited Financial Statements for the Financial Year ended March 31, 2024 and the Reports of the Board of Directors (“the Board”) and the Statutory Auditors’ thereonOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.04%
Turnout: all 37.83% · promoters 37.68% · institutions 79.71% · other public 7.95%
- To declare a Dividend of ₹ 0.50 per equity share for the Financial Year ended March 31, 2024Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.06%
Turnout: all 37.83% · promoters 37.68% · institutions 79.71% · other public 7.95%
- To reappoint Mr. Muralidharan Rajamani (DIN – 01690363), Non-Executive Non-Independent Director, who retires by rotation and being eligible, offers himself for re-appointmentOrdinary99.96% for0.04% against
Against: promoters 0.00% · institutions 0.14% · other public 0.05%
Turnout: all 37.83% · promoters 37.68% · institutions 79.71% · other public 7.95%
- To re-appoint M/s Deloitte Haskins & Sells, Chartered Accountants (FRN 117365W) and M/s. Kirtane & Pandit, LLP, Chartered Accountants (FRN 105215W/ W100057) as the Joint Statutory AuditorsOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.04%
Turnout: all 37.83% · promoters 37.68% · institutions 79.71% · other public 7.95%
- Re-appointment of Mr. Parveen Kumar Gupta - Part Time Non-Executive Chairman (DIN: 02895343) w.e.f. October 12, 2024 till August 31, 2026 (both days inclusive)Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.06%
Turnout: all 37.83% · promoters 37.68% · institutions 79.71% · other public 7.95%
- Approval of payment of variable pay to Mr. Govind Singh - Managing Director & CEO (DIN: 02470880) for FY 2023-24Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.07%
Turnout: all 37.83% · promoters 37.68% · institutions 79.71% · other public 7.95%
Re-appointment of Mr. Govind Singh as Managing Director & CEO (DIN: 02470880) for a further period of three years w.e.f. September 21, 2024 to September 20, 2027 (both days inclusive) and approval of remuneration payable for FY 2024-25MoreLess
Special100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.05%
Turnout: all 37.83% · promoters 37.68% · institutions 79.71% · other public 7.95%
- Approval for increase in the Authorised Share Capital and consequent amendment to the Memorandum of Association of the BankOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.05%
Turnout: all 37.83% · promoters 37.68% · institutions 79.71% · other public 7.95%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
How mutual funds voted
Fund houses must disclose how they vote at every meeting of a company they hold.
Mutual fund votes, meeting of 28 Mar 2026, 2 fund houses
- Approval of Scheme of Amalgamation between Utkarsh Coreinvest Limited into and with Utkarsh Small Finance Bank Limited and their respective Shareholders.
Against Motilal Oswal Mutual Fund
- Motilal Oswal Mutual FundNon-disclosure of the detailed working of the valuation report, and lack of clarity as to whether the Bank will adjust the share exchange ratio post the rights issue and if they would, then how the same adjustment will take place
1 for1 against
Mutual fund votes, meeting of 28 Feb 2026, 2 fund houses
- Appointment of Dr. Ram Jass Yadav (DIN: 08911900) as an Non-Executive Non-Independent Director of the Bank.2 for0 against
- Re-appointment of Mr. Ajay Kumar Kapur (DIN: 00108420) as an Independent Director of the Bank.2 for0 against
- Payment of remuneration to Mr. Govind Singh, Managing Director & Chief Executive Officer (DIN: 02470880) of the Bank for the FY 2025-26.2 for0 against
5 earlier meetings
Mutual fund votes, meeting of 22 Aug 2025, 2 fund houses
- To receive, consider and adopt the Audited Fianncial Statements of the Bank for the financial year ended March 31, 2025 together with the reports of the Board of Directors and the Auditors thereon.2 for0 against
- To appoint a Director in place of Mr. Muralidharan Rajamani (DIN: 01690363), who retires by rotation and being eligible, offers himself for re-appointment.
Against Motilal Oswal Mutual Fund
- Motilal Oswal Mutual FundCompliant with law. Transparency Concern: There is an ambiguity w.r.t. the Board being compliant u/s 152(6). Since the Director is an NRC Member, a duty lies on him to provide clarifications on such matters, as the ambiguity may result in non-compliance u/s 152(6).
1 for1 against - To appoint and fix remuneration of Joint Statutory Auditors of the Bank.
Against Motilal Oswal Mutual Fund
- Motilal Oswal Mutual FundNo concern on merit, competence, eligibility of appointees. Governance Concern: The period of shareholders’ approval exceeds the period of RBI approval. Concern is arising due to inconsistency in legal provisions; the Bank cannot be faulted for the same. Transparency Concern: There is a material change / decrease in the proposed Audit Fee vs the audit fee paid to Outgoing Auditors. The Company has failed to provide adequate justification for decrease in the remuneration.
1 for1 against - Appointment of Dr. Kshatrapati Shivaji (DIN: 01185381) as an Independent Director and Part Time Chairman of the Bank.2 for0 against
- Appointment of M/s. BNP & Associates, Company Secretaries as Secretarial Auditor of the Bank.
Against Motilal Oswal Mutual Fund
- Motilal Oswal Mutual FundCompliant with law. Transparency Concern: There is an ambiguity w.r.t. the Board being compliant u/s 152(6). Secretarial Auditors have failed to highlight the non-compliance w.r.t. Board Compliance u/s 152(6).
1 for1 against
Mutual fund votes, meeting of 12 Jul 2025, 2 fund houses
- Re-Appointment of Ms. Kalpana Prakash Pandey (DIN:06715713) as an Independent Director of the Bank2 for0 against
- Appointment of Ms. Gauri Rushabh Shah (DIN: 06625227) as an Independent Director of the Bank2 for0 against
Mutual fund votes, meeting of 30 Mar 2025, 5 fund houses
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
- To Raise Funds Through Issue of Equity Shares1 for0 against
1 proposal not matched to one resolution
To create, offer, issue and allot such number of Equity Shares (Equity Shares), in accordance with applicable law, in one or more tranches, in such manner in consultation with the lead managers / book running lead manager(s) and/or other advisor(s) or otherwise, for an aggregate amount not exceeding INR 750 crore or an equivalent amount thereof (inclusive of such premium as may be fixed on such Equity Shares) at such price or prices as may be permissible under applicable law by way of one or more permitted means, through qualified institutions placement (QIP) in accordance with the provisions of Chapter VI of the SEBI ICDR Regulations and other applicable laws, preferential issue, private placements, further public offer and/ or other permitted mode or a combination of the permitted modes as may be considered appropriate under applicable laws, to such investors that may be permitted to invest in such issuance of Equity Shares, including eligible qualified institutional buyers (QIBs).MoreLess
Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with Law. Governance concern: Excessive dilution. No specific justification for not opting rights issue.
1 for3 against
Mutual fund votes, meeting of 14 Dec 2024, 5 fund houses
- Appointment of Mr. Pramod Kumar Dubey (DIN: 10174154) as a Whole-Time Director of the Bank and fixation of his remuneration
Against Bandhan Mutual Fund, Groww Mutual Fund
- Bandhan Mutual Fund, Groww Mutual FundCompliant with Law. No concern identified with regard to the merits of the Director and remuneration proposed. Transparency Concern: Lack of clarity regarding whether the proposed position is retiring or not.
3 for2 against - Approval for the increase in the limit of share pool of USFBL Employee Stock Option Plan 2020 and implementation of USFBL Employee Stock Option 2024 - Scheme II
Against Aditya Birla Sun Life Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Aditya Birla Sun Life Mutual FundUnder the scheme, the bank proposes to grant upto 55,059,115 options to eligible employees. The fresh issuance will result in a dilution of 4.8% on the expanded capital base as on 30 September 2024. There is no clarity on the exercise price under the scheme– the notice states that exercise price will be decided by the board/NRC subject to the minimum of face value of equity shares i.e Rs. 10.0 per share. If the stock options are granted at Rs. 10.0, it will represent a discount of ~72% to the current market price of Rs. 35.7 (as on 28 November 2024). We do not favour ESOP schemes where options are granted at a significant discount (>20%) to market price as stock options are ‘pay at risk’ options that employees accept at the time of grant. In the case of deeply discounted options, there is no alignment between the interests of investors and those of employees. We make an exception in cases where the vesting of such options is mandatorily linked to performance parameters and the company has disclosed the pre-defined performance targets for such parameters. In the current case, while the company has disclosed that vesting will be linked to performance parameters, these have not been articulated in the shareholder notice and the NRC may determine additional parameters. In the absence of clarity and the flexibility extended to the NRC, we are unable to support the resolution.
- Bandhan Mutual Fund, Groww Mutual FundNon-Compliant with SEBI (SBEB & SE) Regulations 2021: Inadequate disclosures regarding the Purchase Price/Pricing Formula, Exercise Period and Maximum Options limit to a Single Employee under the Scheme. Governance Concern: Same set of options appear to form part of two different schemes. The administrative mechanism for the Scheme is not clear.
- Motilal Oswal Mutual Fundnot complied with law
1 for4 against
Mutual fund votes, meeting of 22 Jul 2024, 8 fund houses
- To receive, consider and adopt the Audited Financial Statements for the Financial Year ended March 31, 2024 and the Reports of the Board of Directors (“the Board”) and the Statutory Auditors’ thereon8 for0 against
- To declare a Dividend of ₹ 0.50 per equity share for the Financial Year ended March 31, 20248 for0 against
- To reappoint Mr. Muralidharan Rajamani (DIN – 01690363), Non-Executive Non-Independent Director, who retires by rotation and being eligible, offers himself for re-appointment8 for0 against
- To re-appoint M/s Deloitte Haskins & Sells, Chartered Accountants (FRN 117365W) and M/s. Kirtane & Pandit, LLP, Chartered Accountants (FRN 105215W/ W100057) as the Joint Statutory Auditors8 for0 against
- Re-appointment of Mr. Parveen Kumar Gupta - Part Time Non-Executive Chairman (DIN: 02895343) w.e.f. October 12, 2024 till August 31, 2026 (both days inclusive)8 for0 against
- Approval of payment of variable pay to Mr. Govind Singh - Managing Director & CEO (DIN: 02470880) for FY 2023-248 for0 against
Re-appointment of Mr. Govind Singh as Managing Director & CEO (DIN: 02470880) for a further period of three years w.e.f. September 21, 2024 to September 20, 2027 (both days inclusive) and approval of remuneration payable for FY 2024-25MoreLess
8 for0 against- Approval for increase in the Authorised Share Capital and consequent amendment to the Memorandum of Association of the Bank8 for0 against
Each fund house counted once, from its own disclosure; the reasons are its own words.
Investor complaints and compliance
Quarter by quarter.
Investor complaints received and resolved, the company's own count
- Received
- Resolved
Open at the quarter's end
- The board is made up as the listing rules require
- Yes
- The board has a regular chairperson
- Yes
- The company has a risk management committee
- Yes
- The chair is related to the managing director
- No
- The filing has a part on fines and penalties
- No
- The filing has a part on tax disputes
- No
- There was a cyber security incident in the quarter
- No
The company's own answers in its filing.
How money raised was used
Reported for the quarter to Dec 2025. The company's results filing for the quarter to Jun 2026 says no statement of how money raised was used applies to it. A warrant or partly paid issue plans the whole issue while the money comes in over time, so the amount set aside can be more than raised so far.
| Raised | Amount raised | For | Set aside | Spent | Spent elsewhere |
|---|---|---|---|---|---|
| Rights IssuesNov 2025 | 949.08 | Augmenting Tier I capital base to meet its future capital requirements | 949.08 | 949.08 | No |